New Delhi : Public sector shipyard Mazagaon Dockyards Limited (MDL) on Thursday said it has been invited by the Defence Ministry from January 27 for negotiating the over Rs 70,000 crore Project-75 India deal under which six suvtines have to be built.
Giving details of the firm to the Bombay Stock Exchange regarding the developments in the tender, the firm stated: "Opening of Commercial Bid by Indian Navy/ Defence Ministry on 16.01.2025. Indian Navy/ Defence Ministry today 23.01.2025 has now invited MDL for first round of commercial negotiations to be held on 27.01.2025." This deal expected to be worth over Rs 70,000 crore is the biggest ever defence deal in terms of value.
"MDL confirms that the Commercial bid submitted by MDL has been opened by the Ministry of Defence (MoD) for further processing. With respect to the 3 additional submarines of Scorpene class under Project 75, as earlier informed, commercial negotiations with respect to the project are in process," it said.
Earlier in the month, the Defence Ministry found the Indian firm Larsen and Toubro (L&T) bid non-compliant in the Rs 70,000 crore tender to acquire six submarines.
The Indian Navy is looking to buy six advanced submarines with the ability to stay underwater for three weeks under Project 75 India. The proposal of the L&T in partnership with Spanish Navantia has been rejected by the Ministry for not being compliant with Indian Navy requirements, defence sources told ANI.
The L&T and its partner had showcased the functioning of its critical Air Independent Propulsion system in Spain to the Indian Navy team there on shore but the Indian Navy demanded a sea-proven system in its requirements in the tender document.
The latest development meant that the state-owned Mazagaon Dockyards Limited along with its partner ThyssenKrupp Marine Systems of Germany was the only vendor left in the race for making the six submarines.
Vendors involved in the programme have been making representations to the government and the Defence Ministry has been moving ahead as per procedures in the project and have vetted the process at all levels. There have also been suggestions made to the officials concerned to equally divide the project between the shipyards.
The Mazagaon Dockyards recently supplied the last of the six Project 75 Scorpene class submarine INS Vagsheer to the Indian Navy but is going to get orders for three more submarines under Project 75 (Additional Submarine) to be built with French Naval Group support. (ANI)
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